11 Main StLincoln Park, NY 12401

Property Details for 11 Main St

Year built

1909

Lot size

0.06 AC

Property size (Sq ft)

5,897 SF

Zone code

C-2

Property type

Investment properties

Property subtype

Live-work space

APN

510800 48.331-4-12.100

APU

51080048331412100

Description

This exceptional mixed-use property, located at 11 Main St in Kingston, NY (12401), presents a compelling investment opportunity. The three-story, 6,000 square foot building boasts a blend of residential and commercial space. The commercial component includes a restaurant operating under a modified lease with 20 years remaining. The residential units consist of one three-bedroom apartment and three one-bedroom apartments, all currently leased on a month-to-month basis. All utilities are included in the rent, offering significant operational efficiency. The building is zoned C-2, allowing for a variety of uses. The current below-market rents provide immediate upside potential for increased profitability. With five units total and a strong cap rate of 5.67% at the asking price of $1,450,000, this property offers a solid return on investment. This is a rare chance to acquire a well-situated, income-generating asset in the vibrant Uptown Kingston area. The building's strong cash flow and long-term lease make it an attractive option for discerning investors seeking a stable and appreciating asset. This is a turnkey opportunity to own a piece of Uptown Kingston's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $1,464,906

  6.5%

  $1,352,221

  7%

  $1,255,634

• Comparable approach

  Method

  Valuation

  Relative Method

  $775,681

  Geo Method

  $770,502

• Alternative Use

  Use

  Valuation

  Residential

  $1,676,754

  Hospitality

  $1,535,898

  Educational

  $1,277,849

  Medical

  $1,321,796

  Retail

  $1,987,765

Location Insight

City

Kingston

County

Ulster

State

New York

Latitude

41.9333

Longitude

-74.0171

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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